American Silver Eagles History

Since 1986, the United States has minted one-dollar silver coins called “American Silver Eagles.” Each contains a minimum of one troy ounce of 99.9% pure silver. With more than 130 millions coins sold since their inception, the Silver Eagle is one of the world’s best-selling silver coins.

Based on Adolph A. Weinman’s 1916 design “Walking Liberty” half dollar, the Silver Eagle is widely considered one of the most beautiful and affordable American coins ever minted. On the obverse side of the coin is the image of the Walking Liberty; the text includes “Liberty,” “In God We Trust,” and the year of issue.

The reverse side, designed by John Mercanti, showcases an eagle with wings spread against a shield—its right talon grasps an olive branch and arrows in its left, echoing the Great Seal of the United States. It also features the 13 stars for the original 13 colonies of the United States. The text here includes “United States of America,” “1 oz. Fine Silver,” and “One Dollar.”

Uncirculated vs. Certified Silver Eagles

Uncirculated coins come directly from the US Mint, still in the original packaging.

Certified Silver Eagles have been submitted for grading and certified with a certain grade by a professional coin rating company (such as NGC or PCGS.) These certified coins have premiums far above normal uncirculated coins, as they are in outstanding condition and often retain more value than a loose bullion coin.

Value

American Silver Eagle bullion coins carry a face value of US $1.

Mintages, and thus prices, of bullion, proof, and uncirculated Silver Eagle coins have varied widely. Generally, the bullion versions have been minted in the millions, while the proof and uncirculated versions were issued in the hundreds of thousands each. Most dates of the bullion issue are not particularly expensive (around $50 as of September 2011) and are traded at a premium above the intrinsic value of the silver they contain; most proof versions sell for more.

When You’re Ready to Buy

As always, Augusta Precious Metals offers rock-bottom prices with guaranteed fast and free shipping – there are no hidden fees.

Augusta does not provide legal, tax, or investment advice. The Augusta® Depository Gold IRA is a self-directed IRA containing physical precious metals administered by a third-party custodian and stored in a non-government depository storage facility where investors can make an appointment to see their precious metals. The Augusta® Home Delivery Gold IRA is a self-directed physical precious metals IRA delivered to your home. Some investors choose to store IRS-approved American Eagle gold or silver in an IRA in their homes. However, it is wiser to store all metals in a safe deposit box at a U.S. bank. If investors sidestep rules or mishandle account assets (e.g., setting up the IRA improperly, engaging in a prohibited transaction, such as withdrawing metals before retirement to use for any other purpose, etc.), or if it is determined that home delivery or home or bank safe deposit box storage are not permitted by the IRS, the investor could lose tax-exempt status and have to pay taxes and penalties. There is no clear IRS guidance on the legality of the home delivery IRA structure or home or safe deposit box storage, and the IRS is under no obligation to issue guidance on whether home or bank safe deposit storage satisfies IRS requirements and may, at any time, audit an IRA, declare that home or bank safe deposit box storage does not satisfy IRS requirements, and impose taxes and penalties on the IRA owner. It is important to consult your own legal and financial advisors before opening a home delivery IRA from Augusta, and then work with your advisors to decide where to store your precious metals. As with any investment, past performance might not predict future returns. The price of precious metals fluctuates over time and investors might lose money.

Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.